This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, January 6, 2017.
In The Markets
Emini S&P – ESH6 (Mar ’17)
Still trading at the top of a short-term channel created starting from Dec. 13th surprisingly holding based speculation of what Trump will do.
Gold – GGCZ6 (Feb ‘17)
Gold looked poised to breakout and turn momentum up, only to fail last night however still holding without a huge sell-off. If this area does hold previous low of $1,050.00 then $1,124.00 would create a higher low.
Soybeans – ZSF7 (Mar ‘17)
Beans have created a fresh bearish cross on the daily charts signaling possibly more downside.
Crude Oil WTI – GCLG6 (Feb ’17)
Crude Oil had a nice inventory draw this week of -7.43M barrels with a consensus of a build +4.20M barrels which in reality is 11.63M barrels difference off their expectation taking crude off its lows and now trading at the top of its range.
T-Bonds – ZBZ6 (Mar ’17)
Bonds did re-test the 150-00 area only to go 2 pts. higher then trade over 152-24 at the top of its range working on a momentum play for slightly higher price then eventual back down to stay within its weekly downward trend.
U.S. Dollar – DX-MZ6 (Mar ’17)
USD made a nice pullback in the last 3 trading days and currently sitting on support in a well-defined up trend. It will most likely take some type of ‘event’ or ‘news’ to break this uptrend.
(S) OSIU7 C22.00 Option Call Dec. 23rd Open P/L: -395.00
No working orders as of right now.
The Week Ahead
- 1/10 – JOLTS 10:00AM ET
- 1/11 – EIA Petro Report 10:30AM ET
- 1/12 – Jobless Claims 8:30AM ET
- 1/12 – EIA Nat Gas 10:30AM ET
- 1/13 – Consumer Sentiment 10:00AM
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